New System -- reccomendations welcome

Hi everyone,

This is my first post but been using this site for years as its one of the best, if not the best so i thought this would be a good place to get some answers for this new system Im getting in the next few days...

So i would like to get an i7 3770k but i dont think its within budget... so Iv gone with the i5 3570k. I have read a lot of threads about people asking questions regarding this processor and overclocking but as noone has posted with the exact specs my system will be iv had to create a new thread.

so at the moment iv chosen from cyberpowersystem :

Asus p8Z77 V pro Mobo with processor: i5 3570k @ 3.4GHz
nVidia GTX 650 2GB
2x 1TB raid drives
120GB SSD OCZ
16GB DDR3 RAM @ 1600Mhz
Corsair 600 Watts PSU (CX600)
cooling system:
1,200 RPM AKASA Silent Fan x3 120mm
CoolerMaster Hyper 412S CPU Fan with 4 x Direct Contact

and this costing me around £1000 exactly. So my questions are for you guys:

Is this good value for money?

Will i be able to OC the i5 processor to around 4GHz ~ 4.5GHz with these fans, cooling system and PSU
Is it worth me Ocing the RAM to 2133mhz rather than paying the exctra money? and will the hardware support it?

Any help will be greatly appreciated.

Thanks!